10.2.4 Late payment interest
In keys [00617] and [00618] "Late payment interest" (in the event that the tax is paid exclusively to the State or to one or more of the regional tax authorities, respectively) on page 14bis of form 200, the amount of late payment interest corresponding to the amounts that, as a refund for the loss of tax benefits applied in previous tax periods, have been recorded, where applicable, in keys [00615] and [00616] and [00633] and [00642] will be reflected.
Furthermore, in those cases where the loss of tax benefits entails the integration into the tax base of the benefits unduly received, the amount of late payment interest corresponding to the portion of the quota derived from said integration will be reflected in these codes.
Calculation of late payment interest
For the calculation of late payment interest, the initial term of the calculation coincides with the date of the day following the end of the voluntary period for filing the declaration of the tax period in which the tax benefits that are being restored were applied and the final term coincides with the date of filing the declaration of the tax period in which the conditions established for the enjoyment of the corresponding tax benefit have not been met.
If a refund was obtained as a result of the declaration to which the benefits now being restored were applied, the initial term of the calculation will coincide with the date on which the refund was received.
To calculate late payment interest, the late payment interest rate in force in each year is applied to the days elapsed in each year and included in the late payment period.
The formula to be used is the following:
Late payment interest is equal to C multiplied by Σ TnxIDn divided by 365 (366 in the case of a leap year) x 100
In which:
C : amount of profits to be restored.
Tn : number of days of the delay period in each of the years of the same, which are those elapsed between January 1 or the day following the due date of the voluntary deadline for filing the declaration of the tax period in which the benefits to be restored were applied, if this is later, (or, where applicable, from the date on which the refund was obtained) and the date of filing the declaration in which the unduly enjoyed benefits are restored or, failing that, December 31.
IDn : Late payment interest in force in each of the years included in the late payment period.
The applicable late payment interest rates are as follows:
In cases of joint taxation, the late payment interest calculated in this way will be recorded in codes [00617] and [00618] in the proportion corresponding to each Administration, for the loss of tax benefits whose amounts have been recorded in codes [00615] and [00616], or in codes [00633] and [00642], respectively, and, where applicable, in addition, those corresponding to the part of the quota derived from the integration into the tax base of the improperly received benefits.
(1) From 1-1-2009 to 31-3-2009: 7%. From 1-4-2009 to 31-12-2009: 5%. (Back)